Lynx Investment Advisory Cuts Holdings in ConocoPhillips (NYSE:COP)

Lynx Investment Advisory lowered its stake in shares of ConocoPhillips (NYSE:COP) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,585 shares of the energy producer’s stock after selling 148 shares during the period. Lynx Investment Advisory’s holdings in ConocoPhillips were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of COP. Eagle Asset Management Inc. raised its holdings in shares of ConocoPhillips by 2.8% in the third quarter. Eagle Asset Management Inc. now owns 32,985 shares of the energy producer’s stock worth $3,681,000 after buying an additional 910 shares during the last quarter. Nwam LLC purchased a new position in ConocoPhillips in the 3rd quarter worth $483,000. Cerity Partners LLC lifted its position in ConocoPhillips by 20.5% during the 3rd quarter. Cerity Partners LLC now owns 267,329 shares of the energy producer’s stock worth $28,144,000 after acquiring an additional 45,542 shares during the period. Algert Global LLC purchased a new stake in ConocoPhillips during the 3rd quarter valued at about $3,421,000. Finally, Larson Financial Group LLC increased its holdings in shares of ConocoPhillips by 13.0% in the third quarter. Larson Financial Group LLC now owns 23,659 shares of the energy producer’s stock valued at $2,491,000 after purchasing an additional 2,724 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $102.05 on Monday. The company has a market cap of $129.84 billion, a P/E ratio of 13.10, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average price is $99.21 and its 200 day moving average price is $103.37.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is presently 40.05%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of recent research reports. Truist Financial upped their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Barclays reduced their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. UBS Group lowered their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Morgan Stanley began coverage on ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Finally, Wells Fargo & Company lowered their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.